NuScale Power (NYSE:SMR) Stock Price Down 1.9% - Here's Why

NuScale Power Corporation (NYSE:SMR - Get Free Report) shares fell 1.9% on Friday . The stock traded as low as $38.27 and last traded at $38.41. 4,057,199 shares traded hands during trading, a decline of 58% from the average session volume of 9,630,681 shares. The stock had previously closed at $39.16.

Analysts Set New Price Targets

Several brokerages recently commented on SMR. UBS Group boosted their price objective on shares of NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. The Goldman Sachs Group set a $24.00 price target on shares of NuScale Power and gave the stock a "neutral" rating in a report on Tuesday, May 20th. CLSA set a $41.00 price objective on NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. Canaccord Genuity Group set a $35.00 target price on NuScale Power and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, BTIG Research reiterated a "buy" rating on shares of NuScale Power in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $27.00.

NuScale Power Trading Down 2.0%

The company has a market cap of $10.92 billion, a P/E ratio of -28.01 and a beta of 2.00. The company's fifty day moving average is $25.08 and its 200 day moving average is $21.69.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. The business had revenue of $13.38 million for the quarter, compared to analysts' expectations of $1.46 million. Analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Buying and Selling

In other NuScale Power news, insider Clayton Scott sold 10,019 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $16.78, for a total transaction of $168,118.82. Following the transaction, the insider now owns 86,965 shares in the company, valued at approximately $1,459,272.70. This represents a 10.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Lawrence Hopkins sold 26,345 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $23.66, for a total transaction of $623,322.70. The disclosure for this sale can be found here. Insiders sold a total of 128,278 shares of company stock valued at $2,286,280 over the last three months. Corporate insiders own 1.27% of the company's stock.

Institutional Investors Weigh In On NuScale Power

A number of large investors have recently added to or reduced their stakes in the stock. Samsung C&T Corp bought a new position in NuScale Power in the fourth quarter valued at about $46,745,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in NuScale Power by 1,220.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock valued at $26,127,000 after purchasing an additional 1,705,411 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in NuScale Power during the fourth quarter valued at about $22,823,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NuScale Power by 20.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock worth $96,880,000 after buying an additional 1,153,158 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of NuScale Power during the 1st quarter valued at about $14,271,000. Institutional investors own 78.37% of the company's stock.

NuScale Power Company Profile

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.

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